These systems are distinct in that they are backed by their respective national currencies – making them redeemable for cash if there are no suitable spending options.
These currencies are supported with formal organisational set-ups and funding requirements more akin to voluntary-sector initiatives than grassroots interventions.
Environmental sustainability has also become an increasing driver for many currency projects. Examples such as the German Regiogeld and transition currencies strive to stimulate sustainable development, encourage environmentally friendly activities and reduce carbon emissions.
In the early years of the new millennium, another wave of innovation emerged with currencies like the Chiemgauer in Germany, Banco Palmas in Brazil, Berkshares in the USA and Transition Pounds and EKO in the UK.
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